- Copyright Page
- The Law and Economics of the Going-Public Decision
- IPO Regulators Gone Wild
- Determinants of Variation in IPO Underpricing
- IPO Valuation: The International Evidence
- Survey and Synthesis of the IPO Underpricing Literature: The Fixed-Offer Price Constraint as a Unifying Core Explanation
- IPO Market Conditions and Timing over the Long Run
- The Interplay of IPO and M&A Markets: The Many Ways That One Affects the Other
- Lower Visibility Platforms Serving as Stepping Stones to National Stock Exchanges: The Case of Shell Reverse Mergers
- Going Public in China: Reverse Mergers versus IPOs on Chinese Markets
- Specified Purpose Acquisition Company IPOs
- The Impact of IPOs’ Analyst Coverage on the Choice and Timing of SEOs: A Survival Analysis
- Auditor Selection and IPO Underpricing
- The Structure and Role of the Underwriting Syndicate
- Venture Capital and Financial Reporting in Newly Public Firms
- The Dark Side of Venture Capital Syndication and IPO Firm Performance: The Impact of Different Institutional Environments
- All Ties Are Not Created Equal: Institutional Equity Ties, IPO Performance, and Market Growth of New Ventures
- Is Exchange Regulation Effective for Junior Public Equity Markets?
- Corporate Governance in European IPOs
- Survival of Initial Public Offerings on Europe’s New Stock Markets
- Initial Public Offerings in Germany between 1997 and 2015
- The Underpricing of Initial Public Offerings and Private Placements of Equity in China
- IPOs in New Zealand: An Analysis of Benchmark-Adjusted Performance
- Initial Public Offerings in Hong Kong
- The Admission and Regulation of Overseas Issuers: A Survey of the Top Four Financial Centers
- IPOs in a Major Emerging Market Economy—India
- Private Capital Marketplaces and IPOs
- Crowdfunding: Business and Regulatory Perspective
- Regulatory Arbitrage in Cross-Border Crowdfunding
Abstract and Keywords
The Hong Kong Stock Exchange (HKEx) is one of the world’s leading exchanges for international capital raising. This chapter begins with an introduction to the historical trends and regulatory structure of Hong Kong equity capital markets. It discusses how the HKEx provides a platform for Mainland Chinese companies to seek an international listing and for international companies to gain exposure in the Mainland Chinese market. The chapter follows with a practical overview of the initial public offering (IPO) process in Hong Kong: from pre-IPO considerations to a listed company’s post-listing continuing obligations. Topics will be examined from a legal and regulatory perspective and include Main Board and GEM Board listing qualifications, listing methods, application process, role of sponsors, prospectus requirements, offering structure, post-listing continuing obligations, notifiable and connected transactions, corporate governance, and future directions of the HKEx.
Queenie Lai is Deputy Programme Director of the Postgraduate Certificate in Laws Programme at the Chinese University of Hong Kong.
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